would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc.. 
Home
Serious Legal Issues relating to the Proposed Initial Public Offering (IPO).
- Plaintiff had sought enjoining order to prevent the IPO
- Seek 2% of Shares from Jeffrey Zulfer
- CSE and SEC unaware of Legal Action
- Investors Standstill
"An action dated the 7th of August 2024 has been instituted in the High Court (Civil) of the Western Province Holden in Colombo, bearing case No. HC (Civil) 61/2024, by a former employee of the Company (the “Plaintiff”) against Mr. Jiffry Zulfer Hassen, the Founding Shareholder (the “1st Defendant”) and the Company (the “2nd Defendant”). In this case the Plaintiff has pleaded an alleged promise by the 1st Defendant to transfer 2% of the shares of the Company to the Plaintiff and has accordingly asserted a cause of action against the Defendants to effect such a transfer of shares.
As an alternative to the transfer of shares, the Plaintiff has also prayed for an order from court directing the Defendants to jointly and/or severally pay a sum equivalent to 2% of the value of the equity and / or shareholding of the company.
It is the firm position of the Company that it had not made any commitment to the Plaintiff to issue shares to him and strongly refutes the claim that the Plaintiff is entitled to the transfer of shares sought from the Company. Accordingly, the Company categorically denies the unsubstantiated and vexatious claim made by the Plaintiff and will seek the dismissal of the case against it.
The said Plaintiff in its case, has sought an enjoining order in the first instance, an interim injunction pending the determination of the action and a permanent injunction, preventing the Defendants from taking any steps to proceed with the proposed IPO, unless and until the Defendants transfer and / or cause to be transferred to the Plaintiff the equivalent of 2% of the shares described above.
It must be noted that no such order has been issued by Court to date and the Company will vigorously resist such claims to the fullest extent permitted by law."
(Page 77 of Prospectus)
https://invest.pickme.lk/wp-content/uploads/2024/09/PickMe-Prospectus-IPO-FINAL_LR.pdf
